News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Mar 10, 2021 when EUR/JPY traded near 129.31. A contrarian view of crowd sentiment points to EUR/JPY weakness.
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 🇵🇱 Employment Growth YoY (MAY) Actual: 2.7% Expected: 2.5% Previous: 0.9%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 83.48%, while traders in France 40 are at opposite extremes with 75.51%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇵🇱 Employment Growth YoY (MAY) due at 08:00 GMT (15min) Expected: 2.5% Previous: 0.9%
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.32% Gold: 0.79% Oil - US Crude: -0.29% View the performance of all markets via
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.03% 🇦🇺AUD: -0.26% 🇳🇿NZD: -0.44% 🇬🇧GBP: -0.47% View the performance of all markets via
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.07% Wall Street: 0.06% Germany 30: 0.00% France 40: -0.05% FTSE 100: -0.13% View the performance of all markets via
South African Rand: ZAR Strengthens as SARB Signals End to Rate Cuts

South African Rand: ZAR Strengthens as SARB Signals End to Rate Cuts

Richard Snow, Markets Writer

USD/ZAR Analysis:

  • USD/ZAR continues bearish momentum as SARB keeps rates on hold: Repo Rate remained at 3.5%
  • Inflation close to the midpoint of the 3% - 6% target band and commodity prices remain elevated (positive for SA exports)
  • Implied policy rate path indicates the possibility of no further repo rate cuts for 2020

Visit the DailyFX Educational Center to discover why forex-related news events are key to fundamental analysis

MPC Vote to Maintain Key Repo Rate

The Monetary policy Committee (MPC) voted on Thursday to keep South Africa’s repo rate unchanged. The South African Reserve Bank (SARB) Governor, Lesetja Kganyago announced that the decision had been made with close consideration to the expected economic lift for Q3 and Q4, maintained inflation over the medium term and the fact that elevated commodity prices have contributed to a robust trading environment.

central bank announcements can have great implication for FX markets. Find out How Central Banks Impact the Forex Market

Analysts were mixed in their expectations between holding or cutting the interest rate and the market seemed to have been similarly undecided ahead of the meeting with price action showing no discernable direction. The chart below shows the immediate move lower for the pair as Kganyago explained that the future implied policy rate path did not project any further cuts for the remainder of 2020 and even allows for a potential rate hike in the second half of 2021. However, should there be any threats to the current outlook that appear through observed economic data, the Reserve Bank stands ready to react appropriately.

USD/ZAR 4 Hour Chart: Highlighting Rate Announcement

USDZAR 4 hour chart SARB rate decision

Chart prepared by Richard Snow, IG

For all market-moving data releases and events see the DailyFX Economic Calendar

ZAR Key Trading Levels

The daily chart below shows continued Rand strength as the rate decision seems to have buoyed ZAR bulls even further after the breakdown of the 16.3358 level of support. Further rand strength would bring the 61.8% Fib level (drawn from the Jan low to April high) into focus at roughly 16.0000. The 16.0000 figure also represents a psychological round number and may have some influence in future price action.

However, off the back of such a strong and sudden move, it would not be unusual to see a slight retracement of the current bearish momentum. USD/ZAR bulls may focus on a rebound off the 61.8% level that would turn the focus back to the 16.3358 resistance level. Continued upward momentum brings into play the 16.9500 and 17.0000 levels.

USD/ZAR Daily Chart: USD/ZAR Eying 61.8% Fib Retracement

USDZAR Daily chart

Chart prepared by Richard Snow, IG

--- Written by Richard Snow for

Contact and follow Richard on Twitter: @RichardSnowFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.